Just noted, 1PG has two managed funds holdings, Fidelity and...

Just noted, 1PG has two managed funds holdings, Fidelity and Harbour Asset Management, holding 9.8m shares at average price of $4.59 and 14m shares at average price of $2.50 respectively.
If either of them sold more than 1.5m shares (1% change), we should have seen an ASX announcement of change of substantial holder notice. BUT, we have not seen any ASX announcement re substantial holder notice for Fidelity or Harbour Asset Management. That means they did not sell or buy for more than 1.5m shares. They might not sell any, might have bought more but less than 1.5m or 1% of the total shares.

The share price was smashed from $5.69 to $2.17, then bounce to $3.55, then it almost kept falling like a stone to 37c. Last main trigger was the increasing of monthly spending to $2m on 8 March 2016.
On 31 May 2016, 1PG announced to cut monthly spending to below US$1m and aiming to be profitable.

The time lagging for bookings converting to cash revenue, should be noted, there were some misunderstanding of low cash revenue. Next quarterly report should give a more clearer picture.